The owners have very pushy vendors who has suggested a lock out contract with a deposit 6,000. Are such agreements sensible?
This type of contract is unusual in Kensington, conveyancers will often try and steer clients away from them as they divert attention from the primary focus, namely conveyancing and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. In addition, there is no assurance that just because the vendor has signed a lock out agreement they will sell to you. They may be inclined to break the contract if they receive sufficient offer to do so because an aggrieved claimant with the benefit of a lockout agreement will still have to establish consequential losses from the breach and this may not compare to the extra amount that the owner may secure by breaching the contract, no matter how morally unworthy it undoubtedly is.
Our bank has recommended solicitors on their panel based in Kensington but I would rather use a conveyancing lawyer in Kensington round the corner to me. Are you able to assist?
The minority of Kensington conveyancing practitioners are on all lender’s conveyancing panel. Use the above search tool to locate a Kensington conveyancing solicitor on the on the mortgage company panel.
A friend advised me that where I am buying in Kensington I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your Kensington conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Kensington around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Kensington Education with maps and statistics, Local Amenities and other useful data concerning Kensington.
Are there restrictive covenants that are commonly identified as part of conveyancing in Kensington?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Kensington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Kensington differ for new build properties?
Most buyers of new build premises in Kensington come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is completed. This is because builders in Kensington usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kensington or who has acted in the same development.
In what way can the Landlord & Tenant Act 1954 affect my business property in Kensington and how can your lawyers assist?
The particular law that you refer to affords security of tenure to business tenants, giving them the a statutory right to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Kensington